Apple Expands Hyderabad Presence with Fresh Lease at WaveRock Tower 2.1

Apple has leased an additional 64,125 sq ft office space at WaveRock Tower 2.1 in Hyderabad, marking its continued focus on scaling operations in India. The lease, which will commence on July 1, 2025, will run for 60 months with a monthly rent of Rs 80.15 lakh. This adds to Apple's existing 5 lakh sq ft space in WaveRock, cementing its position as one of the anchor tenants in the facility.

Apple India has leased an additional 64,125 sq ft of office space at WaveRock Tower 2.1 in Hyderabad, marking its continued focus on scaling operations in India. The lease, which will commence on July 1, 2025, will run for 60 months with a monthly rent of ₹80.15 lakh. This adds to Apple's existing 5 lakh sq ft space in WaveRock, cementing its position as one of the anchor tenants in the facility [1].

The lease agreement includes a warm shell rent of ₹74.18 per sq ft and a fit-out rent of ₹50.82 per sq ft, with a total monthly rent of ₹125 per sq ft. Apple has also paid a security deposit of ₹4.8 crore and will enjoy a 4.77% annual rent escalation over the lease period. The agreement specifies that neither party can terminate the lease for the first three years, except under specific conditions mentioned in the agreement [1].

This expansion follows Apple's recent lease of 2.7 lakh sq ft of office space in Bengaluru for a 10-year term, highlighting the company's growing presence in India. Apple has been designated 64 car parking spaces at no additional cost, with each space accommodating either one car or up to six two-wheelers. The lease agreement also allows for additional parking spaces subject to availability and payment of extra rent [1].

Apple's expansion in Hyderabad is part of a broader trend of increasing demand for commercial spaces in the city, driven by job creation and improving infrastructure. The company's continued investment in Indian real estate underscores its commitment to the country's growing tech industry and market potential [1].

References:
[1] https://www.hindustantimes.com/real-estate/apple-leases-64-125-sq-ft-of-office-space-in-hyderabad-for-80-15-lakh-monthly-rent-101756725517423.html